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Slack Technologies (WORK) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
Updated ·2-min read

Slack Technologies (WORK) closed the most recent trading day at $27.50, moving -0.29% from the previous trading session. This change lagged the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 0.87%.

Heading into today, shares of the work messaging service had gained 23.62% over the past month, outpacing the Business Services sector's gain of 3.27% and the S&P 500's gain of 1.43% in that time.

Investors will be hoping for strength from WORK as it approaches its next earnings release, which is expected to be March 12, 2020.

Investors should also note any recent changes to analyst estimates for WORK. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. WORK is currently a Zacks Rank #2 (Buy).

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow WORK in the coming trading sessions, be sure to utilize Zacks.com.

Click to get this free report To read this article on Zacks.com click here. Zacks Investment Research